The online brick is an oxymoron. But buying a house at auction on the internet – of course, outside the circuit of judicial and bankruptcy auctions – is now a possibility that, according to the first cores on the market, is liked. The key word: speed. Thus was born Kaaja, the first Italian site for online real estate auctions between individuals which seems to be betting on the particularly effervescent moment of the market by focusing on quality properties and, in the start-up phase, the strongest squares, Milan and Rome, with the ambition to cover medium-large cities and provinces. The first stop will probably be Turin.
This 4.0 version of the classic real estate brokerage proposes a claim based on convenience, speed, safety and transparency and refers to the proptech trend, that is to that sector in vogue for less than ten years that binds property and tech, proposes digital solutions for the real estate linked not only to rentals and sales, but also to data analysis and big data in the sector, management software for the real activity on assets and the use of technologies such as virtual reality to win over the public and customers. A bit like what happened for fintech in credit, the goal is to reduce costs and make the reference market more fluid and transparent.
Kaaja, which for the first few months declares the management of more than twenty online auctions between individuals involving over one hundred thousand customers and 600 physical visits to the properties, proposes a classic auction mechanism with two prices, offer and reserve. The commission, of 3%, in line with the market commissions and all seasoned with warnings to the public to make the offer friendly and transparent: essential, for example, according to the best experts in the sector, that on the need, before venture into an electronic auction, to have in your pocket a pre-resolution of a mortgage from the bank or the lender to avoid frustrating a compromise with the long credit times.
The platform was invented last October by two startuppers and digital entrepreneurs, Dario Cardile and Paolo Castelletti, who import the American experience of Hubzu (of the Altisource group, listed on Nasdaq). Less than a year was enough for a test on the market – started with the initial company name, HomesToPeople – and to find new fellow travelers.
Sensible Capital, the financial boutique of Silvia Rovere, president of Confindustria Assoimmobiliare, CEO of Morgan Stanley sgr and the Club degli investors. Over 230 entrepreneurs joined the latter, a network of business angels and venture capitalists, chaired by Giancarlo Rocchietti and managed by Andrea Rota, the newly appointed managing director.
A complete profile is therefore impossible, but we go from Gregorio Acutis, of the family that owns Vittoria Assicurazioni to Lucio Zanon di Valgiurata (Fenera and Credem), passing through Marco Boglione (BasicNet), Valter Brasso (Teoresi), Carlo Callieri, the president of Stellantis, John Elkann, Massimiliano Marsiaj (Sabelt) and many other Names from the Turin and, lastly, Genoese communities. New shareholders and new board of directors: with Rovere as president, Cardile CEO, Castelletti as chief marketing officer and then the founders of Augmented Finance, Paola Bruno and Teen Talent, Maria Teresa Rangheri.
a very solid project, which has legs to walk even in Europe – explains Rovere -. We will offer the market a hybrid model, with the advantages of the Network and a “service” that guarantees to close a sale in two months and, in the final phase, offering the assistance of specialized professionals to customers. On the supply side, there are connections with the professional sector, but Kaaja.com will not aim to disintermediate traditional agencies, on the contrary it intends to enhance the service with new digital tools and training. Soon a campaign will start targeting networks and individual agents to develop a collaboration.
With the Politecnico di Milano and the Italian PropTech Network, Kaaja has carried out a research which shows the demand for clarity and transparency. For over 70% of potential buyers, the greatest difficulties lie in finding the documentation and in knowing the real market value.